Co-owner Greg Schreiber is working at the telecommunications company to finalize letters to his approximately 450 customers to tell them of the Chapter 11 filing, and that their service will continue. Schreiber plans on getting them mailed out by end of day Sept. 25.

Schreiber, who founded the company with CEO Brian Hurley, would only say the decision to file for Chapter 11 protection as part of a re-organization and that no employees had been laid off.

Since 2004, Vaspian has provided business telephone systems, computer networks, voice over IP, cabling and consulting.

The company, located on Oak Street, is listed twice in Business First’s 2009 Book of Lists. Based on number of employees (30), it is No. 19 among area telecommunications companies. It also was No. 2 on its Fast Track 50, a list where ranking is determined by a score based on percentage of growth in total sales and number of U.S. employees over a three-year period.

Without providing details, Schreiber said the re-organization will help in the short and long term.

“We expect to emerge from this,” he said.

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